LLY · PEAD ↑ 80

Eli Lilly reported Q3 2026 EPS of $7.48 on 2026-10-29 (before market open), beating the $5.38 consensus by $2.10 (+39.0%).

Print-day reaction was +6.6% from the prior close, a decisive gap-and-hold on outsized EPS outperformance. The overnight gap to the T+1 open extended a further +4.0%, signalling continued conviction with no post-close fade. Day 1–3 drift gave back a modest –0.6%, a marginal pullback rather than a reversal, leaving the cumulative gain largely intact. Cumulative abnormal return of +11.7% versus SPY.US — which declined –2.3% over the same window — firmly places this in PEAD long territory; the documented drift pattern holds through the window ending 2027-01-26.